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Funding Opportunities For Independent Community Pharmacy

Additional Funding Opportunities for Independent Community Pharmacies

Securing alternative funding sources before approaching traditional bank lenders can significantly strengthen your pharmacy business proposal. By demonstrating proactive financial planning and accessing diverse funding streams, you enhance your credibility and reduce perceived lending risk. These external funding sources—such as grants, specialized loans, and development programs—can provide critical initial capital, showcase your business’s potential, and signal to banks that your venture has been vetted by multiple financial resources. Moreover, these alternative funds can serve as supplemental capital, reducing the total amount you’ll need to borrow and potentially improving your loan terms.

Disclaimer: The funding opportunities listed below are provided for informational purposes only. The NCPA Foundation does not guarantee, endorse, or assume responsibility for the accuracy, completeness, or availability of these resources. Potential applicants should independently verify all information and carefully review specific requirements, terms, and conditions associated with each funding opportunity.

MicroLoan Programs

SBA Microloans:

KIVA

  • Kiva supports entrepreneurs in the U.S. with interest-free loans which are crowdfunded by lenders across the globe and are paid back over the course of a couple of months to a few years. Kiva U.S. loans can be as large as $10,000.
  • Rather than assessing credit history and financial statements, Kiva U.S. relies on trust networks as a measure of creditworthiness. For that reason, applicants are required to secure initial lenders from within their network prior to fundraising on Kiva (and sometimes a Trustee as well).
  • To learn more and apply for a loan please visit: kiva.org/borrow.

 

Local Funding Providers

Reach out to your local government office and ask what is available to new businesses in your area. They may also have incentives for businesses looking to expand. Common places to seek this kind of support are also community development corporations (CDCs) which are non-profit organizations that work to improve the quality of life in their neighborhoods. They often initiate economic development activities and can help coordinate local governments, lenders, investors, property owners, developers, businesses, and foundations. If your local government is eligible for Community Development Block Grant Funding and doesn’t have economic development programs in place as part of that funding, we recommend asking them to consider making a program to support businesses like independent community pharmacies in the community. 
You can also find a local CDFI that may offer funding to meet your individual needs. Learn more about the government’s CDFI Fund here: cdfifund.gov/faq.
Another great resource will be your local community foundation. Community foundations can serve as a catalyst for local investment, supporting initiatives that address critical community needs like workforce development, entrepreneurship, and infrastructure improvements. They will also have a great understanding of places small business owners can look for funding. 
Finally, your local Chamber of Commerce might be a great resource to find additional funding for your small business. 

Small Business Grants

IFundWomen Universal Grant Application

EmpowHer Grants

  • Female entrepreneurs 22 years of age and older with businesses registered and operating solely in the United States. 
  • Applicant’s business must make a social impact through its product or business model, be earning revenue, and be not more than 3 years old. 
  • You can request up to $25,000 in business support. 
  • Apply here by Feb. 15, 2025: theboundlessfuturesfoundation.submittable.com/submit

Honeycomb Credit Breakthrough Grant

  • The Breakthrough $10,000 Grant is designed for small business owners like you – visionaries who are ready to take their dreams to the next level.
  • Apply for a $10,000 grant here: honeycombcredit.com/breakthrough

The Freed Fellowship

  • Every month they select a business owner in the U.S. as a Freed Fellow. Each Fellow receives a $500 grant to invest in their existing business. No strings attached. No equity required.
  • Apply for a $2,500 small business grant: freedfellowship.com/grant

Hustler’s MicroGrant Application

  • Their mission is simple: to provide grants and invaluable resources to promising small businesses across the United States. With applications open each month, their process is straightforward and dynamic. 
  • Apply for a $1,000 business grant: hersuitespot.com/hustlersgrant

FedEx Small Business Grants Program

  • The FedEx Small Business Grants Program was started in 2012 to award U.S.-based entrepreneurs with grant funding to enhance their businesses. 
  • Prepare for future grant opportunities here.

Amber Grant for Women

  • New awardees are announced monthly.
  • Apply today for a $25,000 Amber Grant For Women.

Federal Grants To Help Your Business Grow

  • The MBDA (Minority Business Development Agency) funds third-party organizations that provide services in support of the Agency’s mission to promote the growth and global competitiveness of minority business enterprises (MBEs). Learn more here: mbda.gov/financial-resources/grants.

State Business Incentives Database

  • A one-stop resource for information about incentive programs in all 50 states. Learn more: stateincentives.org/.

Fundica

  • This platform, supported by VISA can help you identify the best government funding programs and private sector grants, for free. 
  • Sign up here: visa.fundica.com/signup.

Verizon Small Business Grant Funding

  • LISC runs this small business grant program, they: focus on bolstering entrepreneurs whose lack of access to capital and services reflects deep, longstanding structural inequities- businesses owned and operated by people of color, women, immigrants, and veterans, and those located in low-wealth, underserved places.
  • LISC provides direct grants and loans to business owners, and supports “high-touch,” culturally competent local business development organizations that can help entrepreneurs access capital, upgrade marketing and accounting systems, troubleshoot problems, or find affordable commercial space. 
  • Learn more here: digitalready.verizonwireless.com/grants.

Crowdfunding

Don’t underestimate the power of crowdfunding to fuel your pharmacy ownership dreams!

  • Consider utilizing Kickstarter to help raise initial capital for your pharmacy.
  • Start a business fundraiser on GoFundMe.

Venture Capital Funding

Hivers & Strivers Capital

Backstage Capital

T-Mobile Ventures

  • Focuses on companies that can benefit from T-Mobile’s 5G network, sales, and marketing capabilities. 
  • This is a strategic investment fund that provides funding for companies to develop and launch new products.
  • Provides access to engineering expertise, go-to-market capabilities, and 5G connectivity.
  • Learn more: t-mobile.com/business/ventures

Cencora Ventures

SCORE

SCORE can help you start, grow or successfully exit a business. Small business owners who receive three or more hours of mentoring support report higher revenues and increased growth. 

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